Bentley Systems, Incorporated $BSY Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,925,976 shares of the company’s stock after selling 136,081 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bentley Systems were worth $150,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Allworth Financial LP grew its stake in Bentley Systems by 37.6% during the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock worth $38,000 after purchasing an additional 192 shares in the last quarter. Thrive Wealth Management LLC boosted its stake in shares of Bentley Systems by 2.5% in the 3rd quarter. Thrive Wealth Management LLC now owns 8,301 shares of the company’s stock valued at $427,000 after buying an additional 200 shares during the period. Genesis Private Wealth LLC boosted its stake in shares of Bentley Systems by 5.4% in the 3rd quarter. Genesis Private Wealth LLC now owns 3,967 shares of the company’s stock valued at $204,000 after buying an additional 204 shares during the period. Blue Trust Inc. grew its position in shares of Bentley Systems by 19.3% during the second quarter. Blue Trust Inc. now owns 1,305 shares of the company’s stock worth $70,000 after buying an additional 211 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Bentley Systems by 2.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,203 shares of the company’s stock worth $589,000 after buying an additional 247 shares during the period. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSY has been the subject of a number of recent research reports. Oppenheimer decreased their price target on shares of Bentley Systems from $65.00 to $53.00 and set an “outperform” rating for the company in a research note on Tuesday, January 20th. Royal Bank Of Canada reduced their price objective on shares of Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Piper Sandler decreased their price objective on shares of Bentley Systems from $63.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. lowered their target price on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Robert W. Baird set a $55.00 price target on Bentley Systems in a research note on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Bentley Systems Stock Up 0.1%

Shares of NASDAQ:BSY opened at $35.12 on Friday. The firm has a 50 day simple moving average of $39.69 and a 200-day simple moving average of $47.89. Bentley Systems, Incorporated has a twelve month low of $34.49 and a twelve month high of $59.25. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $10.26 billion, a PE ratio of 41.81, a P/E/G ratio of 2.43 and a beta of 1.21.

Bentley Systems (NASDAQ:BSY) last posted its earnings results on Wednesday, November 5th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Bentley Systems had a net margin of 18.45% and a return on equity of 28.16%. The firm had revenue of $375.55 million for the quarter, compared to the consensus estimate of $369.57 million. During the same period last year, the firm posted $0.24 EPS. The company’s revenue was up 12.0% on a year-over-year basis. On average, equities analysts predict that Bentley Systems, Incorporated will post 0.88 EPS for the current fiscal year.

Bentley Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, December 4th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, December 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Bentley Systems’s payout ratio is 33.33%.

Bentley Systems Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.